Storebrand ASA

Transaction in Own Shares • Mar 29, 2023

STOREBRAND ASA - Initiating NOK 500 million Share Buyback Program today

STOREBRAND ASA - Initiating NOK 500 million Share Buyback Program today

The Board of Storebrand ASA ("the Board") has decided to continue the share

buyback program today, 29 March 2023, with a tranche amounting to a maximum of

NOK 500 million ("the program"). This is equivalent to approx. 1.4% of the share

capital in Storebrand ASA given the last closing price of NOK 74.00. The program

will end no later than 30 June 2023.

In connection with the publication of Storebrand's 4th quarter 2022 results,

Storebrand announced that it would seek approval from the Norwegian Financial

Supervisory Authority (NFSA) for a NOK 500 million tranche. The approval was

received on 28 March 2023.

The program is in accordance with the authorisation granted to the Board by the

Annual General Meeting of Storebrand ASA ("the AGM") on 6 April 2022. From 14

April 2023, the program is subject to a renewed authorisation by the AGM on 13

April 2023.

The share buyback program will be carried out by way of repurchases in the

market. Storebrand has entered into a non-discretionary agreement with a third

party who will make its trading decisions independently of, and uninfluenced by,

Storebrand.

In accordance with the authorisation from the AGM, the minimum price that can be

paid per share is NOK 5, and the maximum price is NOK 150. The maximum number of

shares that can be purchased is 46 549 786 shares.

The purpose of the program is to return excess capital to shareholders by

reducing the share capital of the company. According to Storebrand's capital

management framework, the Board intends to buy back shares when the solvency

margin is above 175%.

The shares repurchased under the buyback program will be redeemed (i.e.

cancelled), subject to approval by the AGM in 2024.

Transactions will be conducted in accordance with the Market Abuse Regulation

(EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052

("Safe Harbour Regulation") as further set out i.a. in the Norwegian Securities

Trading Act of 2007 and the Oslo Stock Exchange's Guidelines for buy-back

programs and price stabilisation dated February 2021.

Transactions will be reported on a weekly basis.

Lysaker, 29 March 2023

For further inquiries, please contact:

Trond Finn Eriksen, Investor Relations (interim):

trond.finn.eriksen@storebrand.no or (+47) 991 64 135

Storebrand is a Nordic financial group, delivering increased security and

financial wellness for people and companies. We offer sustainable solutions and

encourage our customers to take good economic decisions for the future. Our

purpose is clear: we create a brighter future. Storebrand has about 55.000

corporate customers, 2.2 million individual customers and manages NOK 1,020

billion. The Group has its headquarter at Lysaker outside of Oslo, Norway.

Storebrand (STB) is listed on Oslo Stock Exchange.

www.storebrand.no

This information is subject to the disclosure requirements pursuant to Section 5

-12 of the Norwegian Securities Trading Act and the Market Abuse Regulation.